Piedmont, Adobe Systems, Amylin

Among the companies expected to see active trading in Friday's session is Piedmont Natural Gas
PNY, -5.71%
The distributor of natural gas is expected to post a fourth-quarter loss of 18 cents a share, according to two analysts polled by Thomson First Call.

Adobe Systems
ADBE, +0.51%
a maker of digital imaging and document software, reported late Thursday net income of $83.3 million, or 34 cents a share, beating analyst expectations for its fourth quarter ended Nov. 30. Analysts polled by Thomson First Call had expected the software maker to earn 32 cents a share, on average. Adobe roughly doubled its earnings from the $40.1 million, or 17 cents a share, it earned in the same period last year. Sales rose 22 percent to $358.6 million, up from $294.7 in the fourth quarter of 2002. See full story. Shares of Adobe gained $2.20, or 5.5 percent, to $41.98 after the bell. It was the most active stock being traded on Inet ECN.

Software maker Verity
VRTY, +0.00%
said its second-quarter profit rose, helped by new product launches and cost controls. The company made $3.6 million, or 9 cents a share, in its fiscal second quarter, versus $2.4 million, or 7 cents a share, in the same quarter a year earlier. Sales rose to $28.9 million from $22.9 million. Excluding charges, the company posted a profit of $4.6 million, or 12 cents a share, handily beating the expectations of analysts, who had been looking for earnings of 9 cents a share on sales of $27.9 million, according to Thomson First Call. Verity also upped its third-quarter and full year forecasts. See full story. Verity shares rose 8.5 percent in after-hours trade to $15.50.

Amylin Pharmaceuticals
AMLN
said after the regular markets had closed that it filed a mixed shelf registration for the sale of up to $300 million in securities. Shares of Amylin added 8 cents to its 4 p.m. close to change hands for $25.13.

The Nasdaq Stock Market on Thursday said after the market closed that it would perform its annual re-ranking of the Nasdaq 100 Index, adding eight stocks to the benchmark -- including four companies involved in semiconductor manufacturing. The companies that will be added as of the start of trading Dec. 22 are Lam Research
LRCX, +0.50%
a maker of semiconductor equipment; chipmakers Marvell Technology Group
MRVL, -0.45%
and ATI Technology
ATYT
; Intersil Corp.
ISIL
a maker of chips used in DVDs and recordable CDs, telecom equipment maker Level 3 Communications
LVLT
; mobile communications technology provider Research In Motion Limited
RIMM
; college operator Career Education Corp.
CECO, +2.29%
and Garmin Ltd.
GRMN, +0.41%
a maker of aviation products. See full story.

Electronic Data System
EDS
was dropped by the British tax agency Inland Revenue as the preferred technology advisor in favor of Cap Gemini Ernst & Young (012533). The contract was reportedly worth about $5 billion. Shares of EDS ended Thursday's regular trading session down 1.8 percent at $22.81.

Thursday's advancers

Shares of Atmel
ATML
soared almost 16 percent Thursday after the company raised its financial targets for the fourth quarter, citing broad-based demand for its chips. The San Jose, Calif.-based company said it now expects sequential sales growth between 7 percent and 10 percent in the quarter, compared with a previous growth target range of 3 percent to 6 percent. Atmel also predicted it could break even on an operating basis, but that it will likely report a "small" net loss.

Citizen Communications
CZN, -3.33%
rallied nearly 21 percent on the company's announcement late Wednesday that it would explore strategic alternatives. The provider of wireline communications services said it has retained a financial advisor to assist in the process.

Shares of DeCode Genetics
DCGN
shot up almost 7 percent after the biotech firm said it had identified two more genes linked to obesity. DeCode has made previous discoveries about the role genes apparently play in obesity. The small Iceland-based company is working with pharmaceutical giant Merck & Co.
MRK, -0.10%
on research into obesity.

IKON Office Solutions
IKN
charged almost 20 percent higher after it announced an agreement to sell certain assets and liabilities of its U.S. and Canadian leasing business to a unit of GE Commercial Finance for $1.5 billion. As part of the agreement, GE Commercial will conduct leasing operations out of IKON facilities and provide funding of IKON's future lease originations. IKON will receive a percentage fee on new lease originations funded by GE Commercial and a monthly volume fee for the first five years. IKON's stock closed Wednesday up 15 cents at $8.80. GE Commercial is a unit of Dow industrials component General Electric
GE, +2.89%

Ivanhoe Energy
IVAN
gained almost 7 percent on heavy volume after the energy company said its stock has been added to Standard & Poor's Toronto Stock Exchange Composite Index, effective Dec. 19.

Shares of Patriot Bank
PBIX
ran up nearly 23 percent after Susquehanna Bancshares
SUSQ
announced an agreement to buy the company for $212 million stock and cash. As part of the agreement, each Patriot share will be exchanged for either $30 a share in cash, which represents a 30 percent premium to Wednesday's closing price, or 1.143 Susquehanna shares, or a combination thereof. Susquehanna expects the deal to produce cost savings of $7.3 million and be accretive to earnings in the first full year after closing. Susquehanna shares eased 1.2 percent.

Right Management Consultants
RHT, +0.48%
powered up more than 7 percent after Manpower
MAN, -0.41%
announced late Wednesday an agreement to acquire the career management consultant for about $488 million in stock. The deal values Right Management shares at $18.75 each, roughly an 8 percent premium to the stock's close at $17.16. Manpower shares ended unchanged.

TriQuint Semiconductor
TQNT
charged 7 percent higher after the company boosted late Wednesday its fourth-quarter financial targets, citing strong demand for its chips used in wireless phones. TriQuint now expects revenue for the period between $85 million and $87 million and earnings, including a $6 million one-time gain, between $4 million and $5 million, or 3 to 4 cents a share.

Thursday's decliners

Shares of mutual fund firm Eaton Vance
EV, +0.25%
were almost 6 percent lighter after the firm said Landon Clay, a former chairman, is selling about 8.5 million shares of the company's non-voting common stock "for personal reasons." The shares represent Clay's whole stake in the company. Clay retired as chairman of Eaton Vance in 1997, a post he had held since 1971.

Shares of Factory 2-U Stores
FTUS
tumbled nearly 36 percent on news released late Wednesday that William Fields has resigned as chairman and chief executive, effective immediately, to pursue retirement. Wedbush Morgan followed by downgrading the discount apparel retailer's stock to "sell" from "hold," saying the Fields' resignation may lead to a "liquidity crisis," as the resultant lack of confidence among creditors and vendors in the company's ability to turn around its operations prompts a tightening of credit terms. Analyst Gary Holdsworth fears this could lead to the company being cut off from obtaining merchandise for the spring and summer selling seasons.

Goodyear Tire & Rubber
GT, -0.24%
slumped more than 11 percent after saying late Wednesday that it would not be able to file an amended 2002 10-K/A report with the SEC until it reviews "possible improper accounting issues in Europe." Delaying the report may affect Goodyear's ability to raise money in the capital markets, the company said, and could give the United Steelworkers of America the right to strike if financing falls through by the end of the year. See full story.

OshKosh B'Gosh
GOSHA
slid more than 5 percent after it said late Wednesday that it would cut staff and take a fourth-quarter charge related to the closing of Kids 'R' Us, the children's apparel chain of stores run by Toys 'R' Us
TOY, -1.88%
OshKosh B'Gosh, which makes children's clothing and accessories, said it currently sells to all 146 of the Kids 'R' Us stores that are due to be shuttered on or before Jan. 31. Corresponding order cancellations and other "challenges" facing the company's business will result in a fourth-quarter charge of about $3.5 million, said OshKosh B'Gosh. In a related move, the apparel maker will also cut about 50 of its staff, including 14 from its headquarters, and take a related $1 million charge in the fourth quarter. The Oshkosh, Wis.-based company now expects to report earnings of 58 cents to 64 cents a share for the fiscal 2003.

Pharmaceutical Product Development shares
PPDI
sank almost 7 percent after the pharmaceutical services company indicated late Wednesday that 2004 results would fall short of current forecasts due in part to the expected earnings dilution from spending on collaborations. The company expects earnings of $1.65 to $1.72 a share for the year on revenue of $760 million to $770 million, vs. the average analyst estimates compiled by Reuters Research of $1.85 a share and $773 million, respectively.

Shares of Unisys
UIS, +1.06%
dropped more than 9 percent due to concerns over expected 2004 pension expenses that surfaced during the information technology company's analyst meeting on Wednesday. The company said it would not be able to fully determine the impact of pension accounting in 2004 until Dec. 31, 2003, but added that expenses are likely to range from $80 million to $90 million vs. income of $30 million in 2003. Separately, the company said it was "on track" to achieve its 2003 earnings target of 77 cents a share, and anticipates capital spending to continue to recover in 2004, with particular strength in the government, security and business process outsourcing markets. Jefferies & Co. analyst Joseph Vafi thinks the stock will trade "flat-to-slightly down" until the market can absorb the pension expense effect.

Whitehall Jewellers
JWL
was knocked almost 8 percent lower after saying it terminated Jon Browne, the company's chief financial officer. The company said the termination is the result of an internal investigation into an inventory policy violation related to a lawsuit.

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